Telegram to launch browser with web3 support, app store
What's the story
Telegram, a popular messaging platform, plans to launch an in-app browser supporting web3 pages this month. An app store is also in the works.
As far as the user base is concerned, Telegram now has 950 million active users.
The company's founder, Pavel Durov, announced on his channel that they aim to cross the one billion mark by the end of 2024.
Information
What is web3?
Web3 is a new version of the World Wide Web that incorporates concepts like blockchain, decentralization, and digital assets and tokens. It is supposed to give users more control over their data as well as their online experience.
Crypto focus
Telegram's blockchain initiatives
Despite a setback in 2018 with a failed initial coin offering, Telegram has continued to support cryptocurrency and blockchain initiatives.
In December 2022, the firm began auctioning usernames on the TON blockchain.
This year, it initiated a revenue-sharing scheme with channel owners by distributing toncoin, a token on the TON blockchain.
However, since November 2023, scammers have been devising schemes to steal toncoins from users according to a report from Kaspersky.
Scam mitigation
Telegram's measures to counter scams
Addressing the issue of scams, Durov stated last week that the company is taking steps to counter such fraudulent activities.
"Soon, Telegram will begin displaying the month of registration and principal country for public accounts (similar to Instagram)," he said.
"We will also allow organizations to use their mini apps to issue labels for channels, creating a decentralized marketplace for third-party verification," Durov added.
This move is expected to help mitigate the risk of scams on the platform.